Ethereum Rising as a Cryptocoin Investment Because Bitcoin Can’t Rule the World.
Largely unnoticed because Bitcoin is hogging the spotlight is the value of Ethereum’s currrency is rising as well as Litecoin. Ethereum rising as a cryptocoin investment is escaping almost everyone’s notice except for Ethereum enthusiasts who are very quietly making a lot of money. Indeed, Ethereum broke the $700 mark this morning and is up a whopping 80% in the past week. The question that begs asking is: why?
For starters, a project named the Massive Autonomous Distributed Reconciliation program (Madrec) was announced this week and will be led by UBS with involvement from Barclays, Credit Suisse, KBC, SIX and Thomson Reuters. Anyone who knows anything about finance already knows some financial heavyweight firms are behind this. Financial news has been focused almost entirely on various blockchain experiments (to wit Bank of America, among others) alongside CBOE Bitcoin futures trading this week and CME trading scheduled to start next week.
Unlike Bitcoin, Ethereum is the forgotten stepchild of cryptocurrency and this is an unfortunate oversight. To its credit, Ethereum has become the second largest digital currency in the world over the past two years. After launching in 2015, the value of Ethereum’s currency, otherwise known as Ether, has increased by over 9000% in the past 12 months according to Coinbase. Bitcoin’s rise, on a purely percentage basis, is pocket change by comparison. That’s why Ethereum rising as a cryptocoin investment platform makes empirical sense.
With Ether being the third most valuable cryptocurrency and the digital currency with the second highest market value, Ether has grown in popularity in a surprisingly select audience of seemingly savants of cryptocoin. when one considers the overall cryptocurrency economic explosion already underway.
We provided some Ethereum coverage recently and you can expect more from us in the weeks and months ahead.
Ethereum (and Litecoin) are on a steady, more stable rise in price which might be more compatible with the comfort zones of some cryptocoin investors. Looking ahead, we see Ethereum rising as a cryptocoin investment of value in the near-term as a viable alternative – or addition to – Bitcoin investing.